Reinventing Retirement: 389 Bright Ideas About Family, Friends, Health, What to Do, and Where to Live
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Reinventing Retirement - Miriam Goodman
Reinventing Retirement
389 Ideas About
Family, Friends, Health, What to Do, and Where to Live
By Miriam Goodman
To Peter Pan
Table of Contents
Introduction
Work
Play
Home
Relationships
Finances
Health
What’s Next
Resources
Introduction
Don’t Stop Thinking About Tomorrow
It isn’t in the medical textbooks, some days it is worse than others, it is definitely contagious, and unfortunately it is a disease you have to cure yourself. Symptoms range from near-paralysis to I’ll think about it tomorrow.
Support groups might help, but denial is powerful. You know you have to face it, plan for it, and confront it, but you just don’t do it. What is this new disease now striking millions of otherwise healthy baby boomers? Retirement Anxiety.
Yes, this is a condition that emerges when you begin thinking about ending the work phase of your life—in other words, retirement. Is the thought of retirement pleasant, or is it anxiety-producing? Are you looking at it as something far in the future, or as an imminent event? Most important, are you ready to think about it, talk about it, or actually do something about it? Retirement means dealing with the future, with dreams, possibilities, and unlimited opportunities like you’ve never experienced before. It is essential to think of it as a beginning, not as an end. Though it may actually be the end of your current career, retirement is also the beginning of the next phase of your life: the one you choose.
Retirement is both a challenge and an opportunity to be embraced with enthusiasm. However, many people see retirement as either a blessing or a curse. It can indeed be a blessing to have the time to do all those things you’ve never had time for before—painting, writing, traveling, volunteering, reading—or a curse if you have no idea how to fill those hours that used to be filled with work. How retired people choose to spend their next twenty, thirty, or forty years will have an impact not only on their own lives but also on their families, their communities, the economy, and possibly the future of our world. A society unprepared to handle millions of educated, healthy, and unoccupied people could be losing one of its greatest resources. Likewise, if you are unprepared for the next phase of your life, not only will you be wasting your resources, but you may also be walking into years of depression, confusion, and needless unhappiness.
Most of the soon-to-be-retired will not wake up on that first Monday morning with a plan for the rest of their lives. They may be single or married, divorced or widowed; they may have children, grandchildren, or parents with whom they want to be in constant contact. They may be financially pinched, comfortable, or wealthy; they may intend to stay involved in community or other activities, maintain ties to friends, or further their education. They may decide to move to a new retirement-friendly
community, stay where they are, or just downsize. Regardless of status or plans for the future, each person must examine his or her wants, needs, finances, dreams, and relationships before making the first step. Reinventing Retirement can help you set priorities, open discussions, and make the transition to the next phase of life a pleasant and fulfilling one.
There are many books on the shelves about how to save and invest for your later years, but few offer ideas regarding how to use your time or develop and find your next passion and purpose. Reinventing Retirement is designed to make it easier for you to assess your retirement needs and consider useful and valuable approaches to meeting them. This book will take you through the various stages of expectation, readjustment, and reflection, with insight and support for your individual hopes and goals now and in the years ahead.
Work: You’ve been looking forward to this moment for years, so why are you so anxious about retiring? Do you still want to do some sort of work for money or to enhance your self-image? Should you offer consulting services in your old field or try something entirely new?
Play: Can you learn to play at any age? Where will you find playmates? Do you need to make play dates? Will experienced players let you in the game?
Home on the change: Should you stay or should you go? Is your house too big? Must you move to an apartment? What about reverse mortgages? Is it time to move to the city, to the country, or perhaps to a warmer locale? Or should you redesign your home to extend independence and comfort and allow you to age in place
?
Relationships: Did you stop working only to become a full-time babysitter for your grandkids? How much togetherness is too much? Valuing and maintaining relationships with friends and family should be a priority and just might be the essence of a successful retirement.
Finances: When it comes to money, nothing is easy. What about health insurance, travel, or unexpected purchases like a kayak? Do you need a financial adviser, a stockbroker, a lawyer, or other professionals?
Psychology: Keeping your mind active and finding a sense of purpose are essential aspects of happiness at this time in your life. Have you thought about which mental activity is right for you? It may be as simple as a college class or a book group. Are you a workaholic? Retirement can be downright scary, and it is easy to become over involved in new leisure activities. Can you recognize the difference between short-term depression and clinical depression that requires professional intervention?
Health: Even though trying a new sport doesn’t mean being drafted by the NBA, exercise is important for your overall well-being. Have you made a plan to exercise, or just talked about it? Did you know that physical fitness ultimately saves on medical bills? Maintaining mobility can mean the difference between active and sedentary later years. And brain fitness is just as important.
What’s next: Those years of work gave your life a certain structure, and you may feel relieved to no longer be governed by the nine-to-five routine. But after having some time off, extended travel, rest, or whatever you choose, you may need a steady activity in your life again. There are many ways to find fulfillment after retirement.
Even positive changes, like graduation, marriage, or winning the lottery, are stressful—so it’s easy to see why the transition to retirement is inherently disruptive. Although this is a very exciting time of life, a chance to do everything you always dreamed of, it is perfectly all right if you also feel a bit apprehensive. You don’t have to throw out all the old in order to embrace the new. Each retiree must find the road that feels right for this new journey, which may be marked by detours and wrong way
signs along the way. With Reinventing Retirement you will understand and control the voyage at your own pace, in a way that is comfortable for you. By systematically approaching the various categories of change, this book offers pointers, questions, resources, and real-life examples from others who have been there. Together, these should guide you toward finding solutions that will work for you.
Work
Start Me Up
The word retirement
brings so much emotional baggage with it that millions of otherwise open-minded, self-aware people immediately change the subject whenever it comes up. Whether it means they have to deal with the reality of aging, that their career is ending and they didn’t quite get where they wanted, or that now they can no longer look to anyone else to make decisions for them (or blame decisions on them), millions of baby boomers are confronting the end of work
with confusion and apprehension.
So, you aren’t going to work anymore … or you aren’t going to work for money … or you aren’t going to work as many hours as you have been working. In other words, you are leaving the traditional, Monday-through-Friday world of work and entering the world of retirement. But hold on a minute. It is not as easy as walking from one room to the next. It is truly a major change in your life, comparable to any other transition you have made that led you to unexpected, scary, and unknown regions—but this time you are probably doing it alone.
Remember that first day of school? Your parents, and perhaps even your grandparents or older siblings, prepared you for it days, weeks, and months in advance. They told you how exciting it would be, how you would begin the process of learning, and how you would make new friends, be exposed to exciting new opportunities, and have teachers and other nice people guide you through it all. Well, retirement is like that new experience, except that this time there are no teachers or helpers. When it comes to retirement, no one is waiting at the door to help you feel comfortable that first day. You may have come a long way, but this time you are on your own.
Wouldn’t it be wonderful if government, schools, or community groups had some kind of retirement preparedness program? After all, we have preschool to get us ready for real school, so why not have something similar for this important phase of our lives? Just like that first day of school, having it come too early, or without the proper preparation, can bring on anxiety, depression, or the adult version of a temper tantrum. But until that kind of preparedness program becomes universal, each of us will have to take responsibility for making our retirement a positive experience. That’s why planning, communication, and having a feeling of control over timing and transition are so important.
First you realize you aren’t important anymore. Then you realize that it’s not important that you’re not important.
Retired executive
What does retirement mean to you? Perhaps you first have to ask yourself what your